Common use of ABSENCE OF MATERIAL EVENTS Clause in Contracts

ABSENCE OF MATERIAL EVENTS. Except as provided in this Section 5.17 -------------------------- and the Pulsar Disclosure Schedule, since the Balance Sheet Date the business of Pulsar has been conducted in the ordinary course of business (including borrowing money for working capital purposes only) and there has not been (a) any material adverse change in the business, affairs, prospects, operations, earnings or financial condition of Pulsar nor, to the best of Pulsar's knowledge, are any such changes threatened, anticipated or contemplated; (b) any actual or, to Pulsar's knowledge, threatened, anticipated or contemplated damage, destruction, loss, conversion, termination, cancellation, default or taking by eminent domain or other action by governmental authority which has materially affected or may hereafter materially affect the properties, assets, business affairs, cash flow or results of operation or prospects of Pulsar; (c) any material and adverse pending or, to Pulsar's knowledge, threatened, anticipated or contemplated dispute of any kind with any material customer, supplier, source of financing, employee, landlord, subtenant or licensee of Pulsar, or any pending or, to Pulsar's knowledge, threatened, anticipated or contemplated occurrence or situation of any kind, nature or description which is reasonably likely to result in any reduction in the amount, or any change in the terms or conditions, of business with any material customer, supplier or source of financing; (d) any pending, or to Pulsar's knowledge, threatened, anticipated or contemplated occurrence or situation of any kind, nature or description materially and adversely affecting the properties, assets, business, affairs or prospects of Pulsar; (e) any waivers by Pulsar of any right, or cancellation of any debt or claim, of substantial value; (f) any declarations, set asides or payments of any dividend or other distributions or payments in respect of Pulsar capital stock; or (g) any changes in the accounting principles or methods which are utilized by Pulsar.

ABSENCE OF MATERIAL EVENTS. Except as provided in this Section 5.17 3.16 -------------------------- and in the Pulsar Litronic Disclosure Schedule, since the Balance Sheet Date the business of Pulsar Litronic has been conducted in the ordinary course of business (including borrowing money for working capital purposes only) and there has not been (a) any material adverse change in the business, affairs, prospects, operations, earnings or financial condition of Pulsar Litronic nor, to the best of PulsarLitronic's knowledge, are any such changes threatened, anticipated or contemplated; (b) any actual or, to PulsarLitronic's knowledge, threatened, anticipated or contemplated damage, destruction, loss, conversion, termination, cancellation, default or taking by eminent domain or other action by governmental authority which has materially affected or may hereafter materially affect the properties, assets, business affairs, cash flow or flow, results of operation or prospects of PulsarLitronic; (c) any material and adverse pending or, to PulsarLitronic's knowledge, threatened, anticipated or contemplated dispute of any kind with any material customer, supplier, source of financing, employee, landlord, subtenant or licensee of PulsarLitronic, or any pending or, to PulsarLitronic's knowledge, threatened, anticipated or contemplated occurrence or situation of any kind, nature or description which is reasonably likely to result in any reduction in the amount, or any change in the terms or conditions, of business with any material customer, supplier or source of financing; (d) any pending, or to PulsarLitronic's knowledge, threatened, anticipated or contemplated occurrence or situation of any kind, nature or description materially and adversely affecting the properties, assets, business, affairs or prospects of PulsarLitronic; (e) any waivers by Pulsar Litronic of any right, or cancellation of any debt or claim, of substantial value; (f) any declarations, set asides or payments of any dividend or other distributions or payments in respect of Pulsar Litronic capital stock; or (g) any changes in the accounting principles or methods which are utilized by PulsarLitronic.